Annually, and only in the month of June, funds collected by the department from the local option transportation facility tax, which are not identified as to the governmental unit due the tax, must be transferred, after reasonable effort by the department to determine the appropriate governmental unit, to the State Treasurer's Office. The State Treasurer shall distribute these funds to the county treasurer in the county area in which the tax is imposed and the revenues must be used only for the purposes stated in the imposition ordinance. The State Treasurer shall calculate this supplemental distribution on a proportional basis, based on the current fiscal year's county area revenue collections.
HISTORY: 1999 Act No. 93, Section 7, eff June 11, 1999.
Structure South Carolina Code of Laws
Chapter 37 - Optional Methods For Financing Transportation Facilities
Section 4-37-10. Transportation authority; establishment; membership.
Section 4-37-20. Rights and powers of transportation authority.
Section 4-37-25. Transportation authority; procurement methods and requirements.
Section 4-37-30. Sales and use taxes or tolls as revenue for transportation facilities.
Section 4-37-40. Limitation on sales tax rate.
Section 4-37-50. Unidentified funds; transfer and supplemental distributions.
Section 4-37-60. Additional sales and use tax not exceeding one percent.